Insider Selling: Precigen (NASDAQ:PGEN) COO Sells $259,935.00 in Stock

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 34,658 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $7.50, for a total transaction of $259,935.00. Following the sale, the chief operating officer owned 465,012 shares of the company’s stock, valued at approximately $3,487,590. The trade was a 6.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Stock Down 3.1%

PGEN opened at $7.19 on Friday. Precigen, Inc. has a 12 month low of $2.99 and a 12 month high of $7.72. The company has a current ratio of 4.58, a quick ratio of 3.89 and a debt-to-equity ratio of 2.15. The business’s 50-day moving average price is $6.01 and its 200-day moving average price is $4.73. The company has a market cap of $2.56 billion, a P/E ratio of -6.91 and a beta of 1.02.

Precigen (NASDAQ:PGEN) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. The company had revenue of $54.98 million during the quarter, compared to analysts’ expectations of $27.98 million. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.The firm’s quarterly revenue was up 6322.7% compared to the same quarter last year. On average, equities analysts expect that Precigen, Inc. will post 0.25 EPS for the current year.

Institutional Trading of Precigen

Several large investors have recently added to or reduced their stakes in PGEN. State of Wyoming bought a new position in Precigen in the 1st quarter worth $27,000. NBC Securities Inc. bought a new stake in shares of Precigen during the 4th quarter valued at about $38,000. Mason Investment Advisory Services Inc. purchased a new position in shares of Precigen during the fourth quarter valued at about $42,000. Abel Hall LLC purchased a new position in shares of Precigen during the fourth quarter valued at about $44,000. Finally, Royal Bank of Canada raised its stake in Precigen by 102.6% in the first quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after buying an additional 5,426 shares in the last quarter. Institutional investors own 33.51% of the company’s stock.

Analyst Upgrades and Downgrades

PGEN has been the topic of several analyst reports. Citizens Jmp lifted their target price on shares of Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a report on Friday, July 17th. Zacks Research upgraded shares of Precigen from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. HC Wainwright upped their price objective on shares of Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Citigroup reiterated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

About Precigen

Precigen, Inc (NASDAQ: PGEN) is a biotechnology company focused on the discovery, development and commercialization of genetic medicines. The company leverages proprietary gene and cell therapy platforms to design targeted therapies for oncology, infectious diseases and rare conditions. Precigen’s approach combines synthetic biology, immuno-oncology and microbiome engineering to create precision treatments intended to enhance efficacy while minimizing off-target effects.

The centerpiece of Precigen’s technology is its OmniCAR platform, which enables the rapid generation of adaptable chimeric antigen receptor (CAR) T-cell products.